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Robert Kiyosaki Advises Against Investing in Bitcoin Exchange-Traded Funds and Advocates for Direct Exposure

03 July 2024 12:08, UTC

Popular author Robert Kiyosaki has advised members of the crypto community against buying Bitcoin exchange-traded funds (ETFs). Kiyosaki believes that investments in Bitcoin should involve direct exposure to the asset, not ETFs.

In an X post, the popular author described ETFs as “FAKE,” stating that he would not buy Bitcoin, gold, or silver ETFs. Explaining his point, Kiyosaki wrote:

“For example, a gold ETF can sell 1 ounce of gold 100 times and more via 1 ETF. That is why I own real gold, silver, and real Bitcoin and keep them very safe, away from banks and Wall Street bankers.”

Crypto buyers and investors already have several channels to interact with Bitcoin, including for investments, as a store of value, or as a medium of exchange. While shoppers can pay for goods and services on platforms that support crypto, bettors, and others in the online crypto community can visit some of the best Bitcoin casinos to enjoy gambling online while protected by crypto and blockchain technology. In addition, investors may enjoy Bitcoin interaction by buying and hodling the king coin, opening other profitable positions, or buying ETFs. However, Kiyosaki strongly advises against the ETF option.

The ‘Rich Dad Poor Dad’ author previously spoke against ETFs in an April X post. Reiterating his position to maintain some distance from Wall Street, he suggests that holding assets directly is a much better choice. Answering his own question about whether or not he would buy a Bitcoin ETF, Kiyosaki wrote:

“No. Just as I own gold and silver coin and mines and own apartment houses, I do not own gold or silver ETFs or REITS, real estate ETFs...Personally, I am an entrepreneur and prefer to stay as far away from Wall Street’s financial products as possible.”

Kiyosaki has previously spoken out against the government and its control of fiat currency, touting Bitcoin and cryptocurrencies as a way for people to protect their assets. A longtime Bitcoin devotee, the author continues to advocate for Bitcoin purchases, offering bullish predictions about the king coin.

Last week, the price of Bitcoin fell below $60,000, disappointing investors. However, Kiyosaki offered that people should consider the plunge an opportunity to buy more. According to him, all markets fluctuate, and Bitcoin should not be any different. He added that these risks are expected, and anyone terrified by market crashes should “sell and hang on tight to your job, which is what most ‘employees’ should do.”

Kiyosaki believes Bitcoin is the easiest way to become a millionaire, as it does all the hard work for you. He believes the king coin is set for a heavy spike, agreeing with an April forecast from Ark Investment Management founder Cathie Wood. The Ark founder predicted that BTC would hit $300,000 this year and $2.3 million later.

Kiyosaki is one of several Bitcoin proponents who strongly believe in the asset’s chances. Another is MicroStrategy founder and former CEO Michael Saylor, who thinks a heavy $10 million price point is possible. Among other points, Saylor argued that Bitcoin is “perfect money,” which he describes as “economic immortality.”

According to current CoinMarketCap data, Bitcoin is at $61,612, rising 1% in 24 hours and falling nearly 3% in 7 days. Nonetheless, on-chain data and analytics provider Crypto Quant suggests that Bitcoin could hit a new all-time high. In a post, Crypto Quant explains that since the halving event cut mining rewards, mining activity fell, and miners sold BTC to cover operation costs. However, the publication suggests that the selling pressure has consistently weakened and may lead to an upward rally if the market eventually absorbs selling volume. A price spike could also attract more Bitcoin activity, drawing attention to the various market segments, including ETFs, mining, crypto gambling, and Ordinals.